The leave of absence for Richard Guay, president and CEO of Caisse de dépôt et placement du Québec, has been extended until Jan. 5, 2009, the Caisse announced Monday.

Guay had previously suspended his professional activities at the Quebec investment management institution for four weeks on the advice of his physician. Guay informed Pierre Brunet, chairman of the Caisse, of his original request on Nov. 12.

“The Caisse’s operations are continuing normally under the interim management of Fernand
Perreault,” the Caisse said in a release.

Last month, Brunet said the fund has $20 billion in liquidity, enough to see it through the market turmoil.

The Caisse manages funds primarily for public and private pension and insurance plans. As at Dec. 31, 2007, it held $155.4 billion of net assets.

IE